I am bullish on flywheel energy storage:
http://en.wikipedia.org/wiki/Flywheel_energy_storage
Topic: Will a peak oil economy be able to sustain a bitcoin mining economy? (Read 2293 times)
August 12, 2013, 09:01:17 AM
August 11, 2013, 01:04:56 PM
Peak oil was like 2006.
US greenhouse gas emissions are actually dropping, so we're using less oil (but more Natural Gas)
There is more then enough sunlight to power the world, the only problem right now is short term cost and the fact that it's expensive to store it for use at night.
US greenhouse gas emissions are actually dropping, so we're using less oil (but more Natural Gas)
There is more then enough sunlight to power the world, the only problem right now is short term cost and the fact that it's expensive to store it for use at night.
August 10, 2013, 07:22:46 PM
Once the oil is finished the lights will go out and life as we have been accustomed to will be gone forever... 
The oil is never 'finished'. Production will never cease under Peak Oil theory and it will always be available. What Peak Oil does predict is that demand will eventually outstrip supply because supply falls. The price (in real terms) then rockets up as customers compete for what's available. Many people become priced out of the market and cannot buy fuel or the products its made from. But oil never actually runs out.
How will that affect bitcoin? Well, if the situation ever arises I think we have far more important things to worry about than an internet commodity. Like food, water, and security.
I think we hit peak oil around a decade ago, the price rose above $100 in the few years after and has never really fallen below that for any significant period of time,
despite record prices, oil companies havent bothered to make new refiniries as they take around 30-40 years to ROI(including build time, planning etc) and if they arent building them while making records profits annually then they must know more than what they let on
But the oil will eventually run out as its a finite resource...
August 08, 2013, 10:15:57 PM
Once the oil is finished the lights will go out and life as we have been accustomed to will be gone forever...
The oil is never 'finished'. Production will never cease under Peak Oil theory and it will always be available. What Peak Oil does predict is that demand will eventually outstrip supply because supply falls. The price (in real terms) then rockets up as customers compete for what's available. Many people become priced out of the market and cannot buy fuel or the products its made from. But oil never actually runs out.
How will that affect bitcoin? Well, if the situation ever arises I think we have far more important things to worry about than an internet commodity. Like food, water, and security.
"How does that affect Bitcoin? It means it will eventually underperform XOM."
August 08, 2013, 08:45:29 PM
Once the oil is finished the lights will go out and life as we have been accustomed to will be gone forever...
The oil is never 'finished'. Production will never cease under Peak Oil theory and it will always be available. What Peak Oil does predict is that demand will eventually outstrip supply because supply falls. The price (in real terms) then rockets up as customers compete for what's available. Many people become priced out of the market and cannot buy fuel or the products its made from. But oil never actually runs out.
How will that affect bitcoin? Well, if the situation ever arises I think we have far more important things to worry about than an internet commodity. Like food, water, and security.
August 07, 2013, 10:04:12 PM
Once the oil is finished the lights will go out and life as we have been accustomed to will be gone forever...
August 06, 2013, 04:24:46 AM
Never ever would it be able to. An economy (labor division of divided laborers, aka civilization/collectivism) is always state-,debt- and energy-based and therefore predetermined to collapse. As soon as debt/credit disappears, the values and transactions disappear as well.
August 06, 2013, 04:16:36 AM
Will a peak oil economy be able to sustain a bitcoin mining economy?
Yes they would, but that's the wrong question.Should they? I think not. That however has nothing to do with depletion of resources and more with the way resources are used.
August 05, 2013, 10:44:31 PM
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